Lululemon Athletica Inc.’s stock vaulted more than 12% in extended trading Tuesday after the clothing retailer reported quarterly results that topped analyst revenue and earnings estimates, and offered strong full-year revenue guidance.
Lululemon LULU, +0.97% reported fiscal fourth-quarter net earnings of $119.8 million, or 94 cents a share, compared with net earnings of $434.5 million, or $3.36 a share, in the year-ago quarter. Adjusted earnings were $4.40 a share.Analysts surveyed by FactSet had expected on average net earnings of $4.26 a share on revenue of $2.7 billion.
Lululemon offered full-year revenue guidance of $9.3 billion to $9.4 billion, topping the FactSet consensus of $9.1 billion. “As we enter 2023, we look forward to another year of strong momentum across the globe and delivering on our Power of Three ×2 growth plan,” Lululemon Chief Executive Calvin McDonald said in a statement announcing the results.
Shares of Lululemon are flat this year, while the broader S&P 500 index SPX, -0.16% has increased 3.4%.
They make good clothes, just did some shopping recently.🏋️
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »